Estée Lauder ends merger talks with Gaultier owner Puig
Estée Lauder has ended merger talks with Puig, the owner of Jean Paul Gaultier, after failing to agree on the balance of power in the potential combined entity. The termination of discussions led to an 11.5% increase in Estée Lauder's shares in post-market trading. Both companies expressed gratitude for the conversations but will continue to pursue their independent strategies.
- ▪Estée Lauder's shares rose by 11.5% after the termination of merger talks with Puig.
- ▪The proposed merger aimed to create a beauty retailer valued at nearly $40 billion.
- ▪Disagreements over control and board seat allocation were key sticking points in the negotiations.
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Estée Lauder’s shares climbed by 11.5% in post-market trading on Thursday as investors welcomed the news that the talks had been terminated. Photograph: Shannon Stapleton/ReutersView image in fullscreenEstée Lauder’s shares climbed by 11.5% in post-market trading on Thursday as investors welcomed the news that the talks had been terminated. Photograph: Shannon Stapleton/ReutersBusinessEstée Lauder ends merger talks with Gaultier owner Puig Sticking points to build beauty powerhouse included which family would hold balance of power, according to FT Business live – latest updates Mark SweneyFri 22 May 2026 04.42 EDTSharePrefer the Guardian on GoogleThe US cosmetics company Estée Lauder has ended merger talks with its Spanish rival Puig to create a fashion and beauty retailer worth almost…
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